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TheDubai Waterfront (now known asWaterfront;Arabic:واجهة دبي البحرية,romanized: wājiha Dubayy al-baḥriyya) was expected to become the largestwaterfront and largest man-made development in the world.[1] The project was a conglomeration ofcanals andartificialarchipelago; it would occupy the last remainingPersian Gulfcoastline ofDubai, the most populous emirate of theUnited Arab Emirates. It was planned to consist of a series of zones with mixed use including commercial, residential, resort, and amenity areas.[1] The vision of the project was "to create a world-class destination for residents, visitors and businesses in the world's fastest growing city".[1]
Run by the Dubai Waterfront Company, the project was open to foreign investment with itsreal estate developer,Nakheel Properties, owning a 51% stake.[2]
Waterfront was being developed by Nakheel, one of the world's largest real estate developers. Theartificial islands would be formed to resemble the most widely recognized symbol of Islam, thestar and crescent. This would produce a shelter around thePalm Jebel Ali, one of the twoPalm Islands, the largest artificial islands (shaped likepalm trees) in the world also being constructed by Nakheel.[3] It was later redesigned without the Islamic design, and due to the2007–2008 financial crisis, the project was stalled. With 40% of the islands already constructed, the project was cancelled.[citation needed]
Waterfront was planned to add more than 70 kilometres to Dubai's coastline[3] and encompass an area of 130,000,000 square metres (1.4×10^9 sq ft) of water and land developments. It was expected to house an estimated population of 1.5 million people.[citation needed]
Located near theAl Maktoum International Airport, and with direct access toSheikh Zayed Road, Jebel Ali Freezone, andAbu Dhabi, the city would have been accessible on a local and international scale.
The development hub would be along the shoreline, stretching in-land to offer a range of residences, commercial districts and industrial areas, with several major tourist attractions and leisure amenities. Extending from the coastline into the Persian Gulf would be a series of connected islands featuring villas and high-end accommodations.
The plan consists of 10 key areas includingMadinat Al Arab, expected to become Dubai's new downtown and central business district.[3] Madinat Al Arab was developed by an international consortium of architects, planners and urban developers featuring resorts, retail, commercial spaces, public spaces, a broad mix of residencies and an integrated transport system including light rail and a road network. It was also to feature a 1-kilometre tall skyscraper namedBurj Madinat Al Arab, however, the tower project was subsequently cancelled.
Other key zones included Al Ras, Corniche, The Riviera, The Palm Boulevard, The Peninsula, Uptown, Downtown, Boulevard, and The Exchange.[4]
Major civil works and infrastructure commenced on the first phase of Madinat Al Arab. Construction of the 8.0 kilometer Palm Cove Canal, which runs parallel to the coastline, began in February 2007 and was more than 65 per cent complete before the project was suspended.
The first phase of Madinat Al Arab (30%) was unveiled to private property and investment institutions from the United Arab Emirates andCooperation Council for the Arab States of the Gulf in July 2005. Within five days, it had been completely sold out, for over 13 billionAED.
The Waterfront project stalled with the onset of theGreat Recession andDubai World's debt crisis in 2009. Nakheel was forced to restructure over $11bn of debt and scale back many of its projects. In December 2011 Nakheel advertised for sale 13 unused construction cranes intended for use in the Waterfront project. Nakheel has announced its intention to develop the first phase of the Veneto and Badrah neighbourhoods and associated infrastructure of certain phases of the Madinat Al Arab in the near-term, while other parts of the waterfront have been suspended until demand improves.[5] However, the islands have since been abandoned with only 2 islands partially completed.
24°57′20″N54°54′34″E / 24.95556°N 54.90944°E /24.95556; 54.90944